One word: Discount.
Homeowners with flood insurance policies in James City County will see a larger discount in their rates.
That’s as the result of floodplain management activities implemented by the county, officials said.
The Department of Homeland Security, Federal Emergency Management Agency determined James City County will increase from a Class 7 to a Class 5 in the National Flood Insurance Program Community Rating System, according to a news release from the county.
The locality is the first community in Virginia to receive a Class 5 rating.
The new rating helps homeowners qualify for a 25 percent discount on flood insurance premiums for NFIP policies issued or renewed in Special Flood Hazard Areas on or after Oct. 1, 2020.
Policy holders should contact their insurance agents for information on the discount, county officials said.
FEMA developed the CRS to provide incentives for communities to go beyond the NFIP minimum program requirements. Activities are credited in the following categories:
- Public Information
- Mapping and Regulations
- Flood Damage Reduction
- Flood Warning and Response
The CRS is updated every five years and will automatically renew each year as long as the county continues to implement the CRS activities and there are no NFIP noncompliance actions.
For more information about the County’s floodplain management activities, click here.
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